Lido Isle – Newport Beach Harbor

A beautiful oceanside community on the Makena Bay on Maui’s southwestern side, Makena, Hawaii, lies nestled among several top-tier golf courses. The Makena real estate market showed positive signs near the end of 2009.

In the month of December, the region saw a median single-family home price of $1.7 million, up from $935,000 in November. In December 2008, there were actually no sales in the area from which to draw statistics. The total dollar sales volume in the area was $6.37 million, with four homes sold in December. One year ago, there was only one home sold, at a price tag of $935,000. This area had the highest median price of homes for sale on Maui in December.

The Makena real estate market saw a continual increase in volume but a dip in prices. There were 10 condos sold in December for a median price of $770,000. In November, there were nine sales with a median price of $1.32 million and one year ago there were just eight condo sales, but the median price was a higher $1.82 million. The Makena area condo market had the third-highest median condo price on Maui during December.

For all of 2009, there were 18 single-family Makena homes for sale sold, a decrease of 28% from 2008, when there were 25 sales. The yearly median sales prices of single-family homes for 2009 was $1.53 million, down 34% from a year ago when it was $2.3 million. Condo sales showed a similar trend: There were 71 sales of condos in the region in 2009, a dip of a hefty 60% from 2008’s sales volume, when there were 179 condos sold. The yearly median sales price was $1.32 million, down 40% from a year ago.